Thursday, January 9, 2025

China Approves $254.76m Loan for Kano-Kaduna Railway

Nigeria’s long-awaited Kano-Kaduna railway project has received a major boost. The China Development Bank (CDB) has approved a $254.76 million loan to fast-track construction.

Once completed, the 203-kilometer railway will connect Kano, the commercial hub of northern Nigeria, to Abuja, the nation’s capital. Residents can expect safer, faster, and more convenient travel, transforming regional connectivity.

The railway promises more than improved mobility. It is expected to create thousands of jobs and spur economic growth in industries along the route. “This project will drive local development and benefit millions,” said Saidu Alkali, Nigeria’s Minister of Transportation.

Funded under China’s Belt and Road Initiative, the project is part of broader efforts to improve Nigeria’s infrastructure. The China Civil Engineering Construction Corporation (CCECC) is handling construction, with the CDB emphasizing its commitment to timely fund disbursement.

READ MORE: From Allies to Adversaries: Why Ivory Coast Joined the Movement to Expel French Troops from African Territories

A spokesperson for the bank stated, “We remain dedicated to working closely with Nigeria to ensure the project’s success.”

Challenges and Progress

Securing funding for railway projects has been challenging. Financial institutions view such investments as high-risk, delaying progress. However, China stepped in to support the Ibadan-Abuja and Kaduna-Kano railways, requiring Nigeria to provide 15% counterpart funding.

President Bola Tinubu recently reaffirmed his commitment to completing these projects, calling them vital for Nigeria and West Africa. The Federal Government aims to finish the Kaduna-Kano line by year-end and has plans for a speed rail from Abuja to Lagos.

The government allocated ₦44.4 billion for ongoing rail projects, including the Lagos-Ibadan and Abuja-Kaduna lines. Two organizations have expressed interest in the speed rail, awaiting regulatory approvals.

As construction advances, residents eagerly anticipate the economic and social benefits the rail system will deliver. For Kano and Kaduna, this could be the dawn of a new era.

Hot this week

Trudeau’s Resignation: A Look at His Legacy and Canada’s Future

Canadian Prime Minister Justin Trudeau has announced his intention...

Yahoo Mail: Search, Organiz EXPOSE Educates Women, Girls On Hygiene, Wellness In Makoko

The critical importance of health, hygiene and wellness in...

Regional Trade at Risk: How Mozambique Protests Impact Zimbabwe, Zambia, and Malawi

The ongoing civil unrest in Mozambique is severely affecting...

Rwanda’s Troops Aiding M23 Rebel Advances in Eastern Congo – UN Report

A recent United Nations report has revealed that between...

Nigeria’s Refineries to Consume 37% of Local Oil in Early 2025

Nigeria’s refineries, led by the Dangote plant, are set...

Yahoo Mail: Search, Organiz EXPOSE Educates Women, Girls On Hygiene, Wellness In Makoko

The critical importance of health, hygiene and wellness in...

Why Nigeria’s Passport is Among the Least Powerful in 2025 – Report

Nigerians seeking seamless global travel may face continued challenges,...

Regional Trade at Risk: How Mozambique Protests Impact Zimbabwe, Zambia, and Malawi

The ongoing civil unrest in Mozambique is severely affecting...

Trudeau’s Resignation: A Look at His Legacy and Canada’s Future

Canadian Prime Minister Justin Trudeau has announced his intention...

Lagos Power Disruptions: Ikeja Electric Decries Vandalism, Calls for Public Support

Nigerians face more frequent power disruptions as Ikeja Electric...

EFCC Cleans House, Dismisses 27 for Fraud and Misconduct

The Economic and Financial Crimes Commission (EFCC) has dismissed...

Egypt Set to Receive $1.2 Billion from IMF as Part of $8 Billion Program

Egypt is set to receive $1.2 billion in financial...

Rwanda’s Troops Aiding M23 Rebel Advances in Eastern Congo – UN Report

A recent United Nations report has revealed that between...

Related Articles

Popular Categories